Fondo Strategico backs Metroweb

The investment will support plans to replicate the firm's business model in other Italian cities.

Fondo Strategico plans to invest a further €300m in a second funding round at a later date.

The primary investor in Fondo Strategico is Cassa Depositi e Prestiti, which is 70% owned by the Italian Ministry of Economy and Finance.

Company
Founded in 1997 and based in Milan, Metroweb owns and operates a fibre optics network in Milan and the surrounding area. The firm also operates in other select areas in Northern Italy, linking them to Milan. The company provides broadband connectivity to telephone, television and internet service providers, public administration bodies and private corporations.

In 2011 the firm reported a €56m turnover and €45m EBIDTA.

People
Giovanni Gorno Tempini is chairman of Fondo Strategico, while Roberto Marsella is an investment director.

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